Johannesburg, 13 September 2021 (TDI): The New Development Bank, an initiative of Brazil, Russia, India, China, and South Africa (BRICS) has released assistance of $ 2billion to South Africa since the start of the COVID-19 pandemic. President Cyril Ramaphosa in his weekly newsletter revealed the grant by reflecting upon the significance of the BRICS nations.
President Ramaphosa stated that the $2billion grant will help the country to overcome the economic loss in the pandemic. BRICS countries will further enhance the cooperation and provide political support to secure personal equipment and vaccine distribution. President further added that the countries also agreed to establish a Virtual Vaccine Research Center and an early warning system to forecast the future outbreaks of such diseases. Other than this, the BRICS partners agreed to collaborate in sectors of IT, science, and green economy.
The President noted that the BRICS hold great importance for South Africa as it improved the country’s position in the world and granted the support of the new development bank.
